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HomeMy WebLinkAboutTR-13-83 CORPORATION OF THE TOWN OF NEWCASTLE ,•5 `� � '• 4,r 40 TEMPERANCE STREET BOWMANVILLE, ONTARIO f• ►• LIC3A6 TELEPHONE 613.3379 REPORT TO THE GENERAL PURPOSE AND ADMINISTRATION COMMITTEE MEETING HELD ON MARCH 14, 1983. TR-83-13 SUBJECT: RESERVE AND RESERVE FUND BALANCES AS OF DECEMBER 31 , 1982 RECOMMENDATION: It is respectfully recommended: 1 . That this report of the Reserve and Reserve Fund Balances as of December 31st, 1982 and the Reserve and Reserve Fund transactions from October 14th, 1982 to December 31st, 1982 be received; and 2. That the attached By-Law to establish the Public Works Equipment Reserve and Sick Credit Liabilities Reserve be approved and recommended to Council ; and 3. That the following transactions within the reserves and reserve funds to December 31st, 1982 be approved: (a) Out of Working Capital Reserve - $9,600.00 for the outstanding claims regarding Heat Wave Concert; and (b) Out of General Revenue to the Sick Credit Reserve - $50,000 to increase the sick credit reserve to offset approximately $342,065 invested sick credit; and (c) Out of Self-Insured Losses Reserve - $910.00 for the Public Library loss due to break-in in the fall of 1982; and (d) Out of General Revenue to the Self-Insured Losses Reserve - $10,000,00 to increase the reserve by estimated premium savings and to provide funds to offset deductibility limits. (e) Out of Municipal Acquistions of Real Property Reserve - $1,103. 50 for costs related to the grant for the property purchase and legal fees for the Registry property; and - 2 - TR-83-13 Reserves and Reserve Funds March 14, 1983 G.P.A. (f) Out of Public Works Equipment Reserve - $200,000 for the purchases of various pieces of equipment as approved in the 1982 budget; and (g) Out of Fleet Operations to the Public Works Equipment Reserve - $173,969.98 which represents the net operating position of the Public Works Department equipment fleet (licenced and unlicenced) ; and (h) Out of General Revenue to the Public Works Equipment Reserve - $250,000.00 to increase the reserve within the limits set by Council (20",, of the total value of the equipment fleet) ; and (i ) Out of Fleet Operations to the Garbage Equipment Reserve - $32,111. 13 which represents the net operating position of the Garbage Collection equipment fleet; and (j ) Out of General Revenue to the Parks and Recreation Equipment Reserve - $5,000.00 to increase the equipment reserve as provided in the 1982 budget; and (k) Out of General Revenue to the Fire Department Reserve - $300.00 to recognize the salvage value of the rescue van transferred to the St. John's Ambulance Brigade; and (1 ) Out of Bowmanville Museum Capital Reserve - $195.00 for capital repairs to the Museum building; and (m) Out of General Capital Reserve - $34,217. 59 related to the purchase of lands for the Orono Fire Station ($27,007. 74) and repairs to the Bowmanville Arena; ($7,209.85) ; and (n) Out of General Revenue to the Pits and Quarries Reserve - $13,158.82 which represents the net value of the materials removed from the municipal gravel pit for use in its road programs ; and (o) Out of Lot Levies Reserve Fund - $62,081.86 representing $34,081.86 contribution to Splash Captial fundraising and $28,000.00 grant to the I .O. F. regarding the Senior Citizens Housing Project; and (p) Out of Parking Lot Reserve Fund - $11 ,106.81 representing costs of parking enforcement; and (q) Out of Industrial Promotion Reserve Fund - $68.00 representing survey costs regarding the industrial land; and 3 - TR-83-13 Reserves and Reserve Funds March 14, 1983 G.P.A. (r) Out of Industrial Debenture Reserve Fund - $1 ,809.67 representing debenture payment costs funded from this source; and (s) Out of Road Capital Reserve Fund - S739.43 representing costs for appraisals , surveys and legal costs related to the sale of road allowances ; and (t) Out of Parkland - Cash-in-lieu Reserve Fund - $45,845. 36 representing $34,081.86 contribution to the Splash Capital Fundraising, 510,898. 78 regarding park development in various areas approved in the 1982 budget and $864. 72 for development costs; and (u) Out of Courtice OHAP Reserve Fund - $1,119.94 for engineering costs related to the storm drainage works; and (v) Out of Administration Improvements Reserve Fund - $50,126.22 for materials .for repairs to Town Hall ; and (w) Out of Ontario Home Renewal Reserve Fund - $7,369. 12 representing 57,031.52 in forgiveness of loans for the 1982 fiscal year and $337.60 in administration charges for the 1982 fiscal year. 4. That the attached by-laws to establish the Lot Levy Reserve Funds Courtice Urban Area and Lot Levy Reserve Funds - Town of Newcastle by approved and recommended to Council . i BACKGROUND AND COMMENTS: The year end position of the reserve fund and the summary of the transactions for the 1982 fiscal year are shown on the attached schedules for Reserves and Reserve Funds. Respectfully submitted, k.,_ t_ Kathryn� A. Campbell , C.A. , B.Comm. , Treasurer. KAC:gf Enclosures PAGE 4 CORPORATION OF THE TOWN OF NEWCASTLE_ CONTINUITY OF RESERVE FUNDS Y/E Dec. 31, 1982 --_-_ ---. _-.- --- - LOT PARKIN INDUSTRIAL ROADS _ PARKLAND COURTICE ADMINISTRATION INDUSTRIAL_EXPROPRIATION OHRP B'LZLLE LEVIES LOT - - - ----- DEVELOPMENT CAPITAL CASH=IN-LIEU OHAP IMPROVEMENT DEBENTURE PROCEEDS MUSZ-1m BALANCE AT DECEMBER 31, 1981 128,473.79 118,939.13 319 741.12 20,774-42 380 565.191 105,323.68 -391,911.82 22,652.39 78,013.02 REVENUES -- -. _ - - - - -- - --- -- -- - - - -- --.. _ -.- ----- - -'- ---- - - Contrib. from Revenue Fund - Contrib. from Reserve Fund __-,_ ----37,061 731 000.00 .__Contrib_._ ;06 from Capital, Fund _ _ 136,175.19 SNVES'IM ENT INCQME: Own Funds (General Fund) 21109_71 1,849.55 4,666.12 303.14 4 831 2Q{I 1,535.01 6,832.26 338.22 2,506.71 _ 1,071.9_1_ _ Other (Outside Investments) 19,165.26 17,367.02 42,558.34 2,711.38 41,691.35'i 13,892.35 62,302.91 3,352.45 22,993.49 -8,139.35 350_09 ONTARIO HQME RENEWAL PLAN: Interest Earned - - -------_ .-- --- -- - - -- ------ ----- - - 65 Parking Revenue 36,547.24 Land Sales and Equip. Sold 1,000.00 5,020.92 25,000.00;; Contributions Others 53,500.00 1,000,00 153.00 TOTAL REVENUE 74,774.97_ 55,763.81 48,224.46_ 8,035.44 _72,522.64 15,427_36 200,288.17 _3,420.67 198,736.45 _ 9,863.75_ 20,35C.00 -P- -- ----- - - - - EXPENDITURES - --- - - -- ---------- - -- ---- - - Transfer to Capital Fund _ _ _ 34,081.06 207,997.36 6,303.45 Transfer to Revenue Fund 28,000.00 23,637.62 68.00 5,998.80 16,418.14 110,302,62 CHAFE ES FOR NET LONG TERM LIABILITIES: - -- -- - - -_.__._ Principal -- - -- - . -= - Interest ONTARIO HOME RENEWAL PLAN: - - - - - -- - _ 652.35_ ". - - - - _.. ---- --._ .— - - -- - -- -- -- --- -------- ------ '- - Loan Forgiveness --- .7,031.52 - Administration Charge - - -- - TOTAL EXPENDITURE 62,061.06 23,637.62 68.00 5,998.80 224,415.50 6,303.45 110,302,62 1,809, 67 7,369.12 - BALANCE AT DECEMBER 31, 1982 141,167.70 151,065.32 367,897.5II 22,811.06 228,672.33 114,447_59 481,897.37 24,263.99 198,736.45 80,507,65 20,350.00 _ PAGE 5 ---- - - CORPORATION OF THE TOWN OF NEWCASTLE -- ---- CONTINUITY OF RESERVES Y/E Dec. 31, 1982 - F - - --- " ' Working Self-3nsuredMun.Acquist. Public Works Garba e Animal ----- -- - g _ _ Parks& Rec'n Fire Dept. B'villeMuseum_ Sick Credit General Pits Capital Losses --Real propertX equip. .E I_ Control E i' �. a/c X2900-01-8 2900-02-7 2900-03-6 2900-10-7 2900-11-6 - - - Equip qu p. Eau p .- -- - _Capital R i i Capital Reserve Ca i -- - --- .- - - -.___ 2900-13-4 2900-13-4 2900-14-3 2900-15-2 2900-16-1 2900-17-0 2900--a-9 2900 18-9 _- . Balance-of Dec. 31J61- �' THE CORPORATION OF THE TOWN OF NEWCASTLE BY-LAW 83-45 being a by-law to establish a Reserve for Sick Credit Liabilities. WHEREAS, the Council of the Corporation of the Town of Newcastle considers it desirable to establish a reserve for sick credit liabilities; AND WHEREAS, Section 164(5) of the Municipal Act, R.S.O. 1980, provides that "Council may by by-law require that the estimates for the current year of every board, commission or other body for which the Council is by law required to levy any rate or provide money shall be submitted to the Council on or before the 1st day of March in each year, and that such estimates shall be in the form and give the particulars that the by-law prescribes"; NOW THEREFORE BE IT ENACTED AND IT IS ENACTED AS A BY-LAW of the Corporation of the Town of Newcastle as follows: 1. That the Treasurer be authorized to establish a reserve, entitled Reserve for Sick Credit Liabilities, with a target figure of'a-minimum of 25% and a maximum of-50% ofthe total vested sick credits. BY-LAW read a first and second time this 28th day of March , 1983. BY-LAW read a third time and finally passed this 28th day of March 1983. G.B. Rickard Mayor Seal D.W. Oakes Town Clerk THE CORPORATION OF THE TOWN OF NEWCASTLE BY-LAW 83- 46 being a by-law to establish a Reserve for Equipment Replacement - Public Works. WHEREAS, the Council of the Corporation of the Town of Newcastle considers it desirable to establish a reserve for the purpose of equipment replacement within the Public Works Department; AND WHEREAS Section 164(5) of the Municipal Act, R.S.O. 1980, provides that "The Council may by by-law require that the estimates for the current year of every board, commission or other body for which the Council is by law required to levy any rate or provide money shall be submitted to the Council on or before the 1st day of March in each year, and that such estimates shall be in the form and give the particulars that the by-law prescribes"; NOW THEREFORE BE IT ENACTED AND IT IS ENACTED AS A BY-LAW of the Corporation of the Town of Newcastle as follows: 1. That the Treasurer be authorized to establish a reserve, entitled Reserve for Equipment Replacement - Public Works Department, with a target figure of 20% of total equipment value. 2. That the Treasurer be authorized to transfer the monies presently held in the reserve established by Council resolution, to the Reserve for Equipment Replacement - Public Works Department. BY-LAW read a first and second time this 28th day of March 1983 BY-LAW read a third time and finally passed this 28 day of March 1983 Mayor Clerk I THE CORPORATION OF THE TOWN OF NEWCASTLE BY-LAW 83-47 being a by-law to establish Reserve Funds for Lot Levies - Town of Newcastle. WHEREAS, the Council of the Corporation of the Town of Newcastle has adopted a revised development charge policy, the Council considers it desirable to establish reserve funds for lot levies - Town of Newcastle; AND WHEREAS, Section 165(1) of The Municipal Act, R.S.O. 1980, provides that:- "Every municipality as defined in the Municipal Affairs Act and every board, commission, body or local authority established or exercising any power or authority with respect to municipal affairs under any general or special Act in an unorganized township or in unsurveyed territory may in each year provide in the estimates for the establishment or maintenance of a reserve fund for any purpose for which it has authority to spend funds, provided that, where the approval of the council is required by law for a capital expenditure for the issue of debentures of or on behalf of a local board, the approval of the council of a provision in the estimates of the local board for a reserve fund shall be obtained." NOW THEREFORE BE IT ENACTED AND IT IS ENACTED AS A BY-LAW of the Corporation of the Town of Newcastle as follows:- 1. That the Treasurer be authorized to establish the following reserve funds entitled: Lot Levy Reserve Fund - Town of Newcastle for Community Services, Lot Levy Reserve Fund - Town of Newcastle for Public Works, Lot Levy Reserve Fund - Town of Newcastle for Civic Administration. 2. That the development charges paid for land reverences, plans of i subdivision and rezonings for residential development in the Town of Newcastle, save and except, those monies to be allocated to the Lot Levy Reserve Funds - Courtice Urban Area, as established in By-Law 83-48 be apportioned to the Lot Levy Reserve Funds - Town of Newcastle on the following basis for expenditures to meet the needs of the community as a result of development in the Town of Newcastle:- (a) 50% to Lot Levy Reserve Fund - Town of Newcastle for Community Services. (b) 40% to Lot Levy Reserve Fund - Town of Newcastle for Public Works. (c) 10% to Lot Levy Reserve Fund - Town of Newcastle for Civic Administration. - 2 - 3. That the Treasurer be authorized to transfer such monies presently held in the Lot Levy Reserve Fund established by By-Law 76-58, save and except, such monies as have accrued to the Courtice Urban Area as established in By-Law 8348 to the Lot Levy Reserve Funds - Town of Newcastle on the basis provided under By-Law 76-58,being:- (a) 33 1/3% for administration building, furnishings and (b) 33 1/3% for public works. (c) 33 1/3% for other community facilities. BY-LAW read a first and second time this 28tH day of March, 1983. BY-LAW read a third and finally passed this .28th day of March, 1983. G B Rickard I- ,/ Mayor Seal D.W. Oakes Town Clerk THE CORPORATION OF THE TOWN OF NEWCASTLE BY-LAW 83-48 being a by-law to establish Reserve Funds for Lot Levies - Courtice Urban Area. WHEREAS, the Council of the Corporation of the Town of Newcastle has adopted a revised development charge policy, the Council considers it desirable to establish reserve funds for lot levies - Courtice Urban Area; AND WHEREAS, Section 165(1) of The Municipal Act, R.S.O. 1980, provides that:- "Every municipality as defined in the Municipal Affairs Act and every board, commission, body or local authority established or exercising any power or authority with respect to municipal affairs under any general or special Act in an unorganized township or in unsurveyed territory may in each year provide in the estimates for the establishment or maintenance of a reserve fund for any purpose for which it has authority to spend funds, provided that, where the approval of the council is required by law for a capital expenditure or the issue of debentures of or on behalf of a local board, the approval of the council of a provision in the estimates of the local board for a reserve fund shall be obtained." NOW THEREFORE BE IT ENACTED AND IT IS ENACTED AS A BY-LAW of the Corporation of the Town of Newcastle as follows:- 1. That the Treasurer be authorized to establish the following reserve funds entitled: Lot Levy Reserve Fund - Courtice Urban Area for Community Services, Lot Levy Reserve Fund - Courtice Urban Area for Public Works, Lot Levy Reserve Fund - Courtice Urban Area for Civic Administration. 2. That the difference between the development charges paid for land reverences, plans of subdivision and rezonings for residential development in the Courtice Urban Area as defined in the Official Plan of the Regional Municipality of Durham and the development charges for land severences, plans of subdivision and rezonings for residential development in the remainder of the Town of Newcastle apportioned to the Lot Levy Reserve Funds - Courtice Urban Area on the following basis for expenditures to meet the needs of the community, as a result of development in the Courtice Urban Area:- (a) 50% to Lot Levy Reserve Fund - Courtice Urban Area for Community Services. (b) 40% to Lot Levy Reserve Fund - Courtice Urban Area for Public Works. (c) 10% to Lot Levy Reserve Fund - Courtice Urban Area for Civic Administration. - 2 - 3. That the Treasurer be authorized to transfer such monies ashave faccrued to the Courtice Urban Area which are presently held / in the Lot Levy Reserve Fund established by By-Law 76-58 to the Lot Levy Reserve Funds - Courtice Urban Area on the basis provided under By-Law 76-58 being: (a) 33 1/3% for administration buildings, furnishings and equipment. (b) 33 1/3% for public works. (c) 33 1/3% for other community facilities. BY-LAW read a first and second time this 28th day of March, 1983. BY-LAW read a third and finally passed this 28th day of March, 1983. G.B. Rickard-, Mayor Seal D.W. Oakes Town Clerk I i I i